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~ ADJUSTABLE RATE RIDER
June
.,1g86
THIS ADJUSTABLE RATE RIDER is made this. ~Uday oi , and
is incorpor~ted into and shall be deemed to amend and supplement the Mort~age, Deed oi Trust or Security Deed
(the "Security InstrumenY') of the same date given by the undersigned (the "Borrowe~ to secure 8or?owe~s ~
Adjustable Rate Note (the "Note'1 to Flrat Community 8~rvic~ Corp . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~
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(the"Lende~ofthesamedateandcoveringtheproperty ;
described in the Security Instrument and located at
2430.S.E..Elston Street, Port St. Lucie, Florida ;
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(P?ow?A~ /?aoroW
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TNlS N~TE CONTAINS A PROYiS10N ALLOWING FOR J
CHANGES !N MY lNTEREST RATE. IF MY INTEREST
RATE INCREASES, MY MONTHLY PAYMENTS WILL
BE HIGHER. IF MY INTEREST RATE DECREASES, MY
MONTHLY PAYMENTS WILL LOWER.
Additlcnal Covenants. !n addition !o the covenants and agreements made in the Security Instrument,
Borrower and Lender further covenant and agree as follows:
A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
The Note provides for an initial interest rate of The Note provides forchanges in fhe interest rate and
the monthly payments, as foltows:
4. INTEREST RATE AND MONTHLY PAYMENT CHANGES; BORROWER'S RIGHT TO
LIMIT PAYMENT ~
(A~ Change Dates
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The interest rate I wiit pay may change on the first day of . _ . July
. . . . . . . . . . . . . . . . . ~ 9 . . . . , and on `
that day every 12 monih thereafter. Each date on which my interest rate could change is call a"Change Date." ~
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(B) The Index ~ i
Beginning with the first change date, my interest will be based on an index avaitab~e with the Federal j
Home Loan Bank Board. The "Index" to be used is the: _ j
Weekly average yield of United States Treasury Securities adjusted to a constant maturity of_year. ~
(X ) Nationat Monthly Median Cost of Fun~s (NACSTM) ' '
The most recent index figure available at least 30 days but not more than 120 days is called the "Current ,
lndex".
If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable
information. The Note Holder will give me notice of this choice.
(C) Calculation of Changes ~
~ 6eiore each Chenge ~ate, the Note Fiotdsr wi!! catculate my ne+~r interest rate by adding Two_ _and
; .....Qt~e..Quar.t~r
...................percentagepoints(.....2..25........%)tothecurrentlndexThisamountwitlbemy
! new ~nterest rate until the next Change Date.
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~ The Note Holder will then determine the amount of the monthly payment that would be sufficisnt to repay
the unpaid principal that I am expected to owe at the Change Date in full on ths maturity date at my new interest rate
in substantially equal payments The result of this calculation is called the"Full Payment" It will be the new arnount
E ~ of my monthly payment unless I choose the amount permitted by Section 4(Fl below.
(D) EHective Date of Changas
My new inierest rate wi!! become effective on each Change Oate. ! will pay the amount of my new monthly
payment beginnng on the first monthly payment date after the Change Date until the amount of my monthly
payment changes again.
(E) Plotice of Changes
The Note Holder will detiver or mail to me a notice of any ch2nges in my interest rate and the amount of my
monthly payment before the effective date of any change. The notice will include information required by law to be
given me and also the title and telephone number of a person who wili answer any question 1 may have regarding
the notice.
(Fl Limits of Interest Rats Chan~es
The interest rate as calculated herein, wil not be increased by more than 2 percentage points on
the first Change Data, or more than 1 percentefle points on any chanqe date thereafter. Decreases in
interest rates wili not exceed 1 percenta9e points on any chanqe date. In no ev~nt shatl the interest rate
on this loan at any point in time, be greater than 14.00 % or lesa tfian 6.00 96.
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